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Sprott on Keiser: Silver Manipulated, Gold a Reserve Currency

May 12, 2011

Eric Sprott appears as a guest on Max Keiser’s Keiser Report and discusses silver, gold and other commodity prices. His opinion on the recent declines is that is merely profit taking and the upward movement in gold, silver and other commodity prices will continue shortly. According to Sprott, Gold has become the world’s reserve currency due to ongoing currency devaluation by governments. He also says that silver was manipulated lower.

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Sprott has put his money where his mouth is. While having recently sold PSVL (Physical Silver Trust), he poured the proceeds back into Silver Miners, which had not kept pace with silver prices. Further, Sprott recently announced the creation of a new Silver Bullion mutual fund. What more can you ask of him?

New Silver Bullion Fund Announced by Sprott

May 9, 2011

Sprott Asset Management, the Canadian purveyor of the Physcal Metal Trust (Symbol PSLV), has announced a new offering. Being proffered is Sprott’s fifth precious metals fund: First Silver Bullion Mutual Fund. That’s right, this is not an ETF.

The new Sprott silver fund, according to the company, is an “innovative offering, being the first mutual fund in Canada to invest primarily in unencumbered, fully allocated silver bullion.”

Sprott proposes to relieve you of the burden of purchasing and storing silver bullion yourself. One might question where they are going to get the silver, with all the talk of silver shortages. As paper silver plummeted on CME margin machinations and rumors that Sprott was unloading silver from PSLV, a new fund is announced and it was revealed that Sprott merely sold silver to buy miners and other depressed silver opportunities. Read ZeroHedge for multi-post daily updates on that front.

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CME Hikes Brent Crude Oil Margins 25%

May 9, 2011

It appears that the CME has now decided to attempt with Brent Crude what they did with Silver. Both initial and maintenance margin requirements have been hiked 25% for FX and other petro-chemicals. The good people at Zero Hedge predicted this just last week. You’ve got to hand to the Zero Hedge folks – they’ve got the game figured out. See the CME Advisory at Zero Hedge here.

Watch the impact in real time: Brent Crude Oil Charts Real Time

Silver Cartoon Bears Part 6: Paper Silver Manipulation

May 5, 2011

The Silver Bears Part 6 treat us to a discussion of paper silver manipulation and why it is important to buy physical silver. Their conclusion? Buy puts on paper silver, which will go to zero. Buy the physical metal on dips. Are they right? They got the move to 50 right. Are we now in a mere pull-back? Let’s see what the bears have to tell us. We warn you, the bears, while cute, do use rather foul language to get their point across – which is kind of funny if it’s your first time watching them.

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Silver: CME Hikes Margin Requirements, Apmex Scrounges

Apr 25, 2011

The CME hikes silver initial And maintenance margins By 9%. Who could have predicted that this was coming? Just about anybody, that’s who.

Read all about it at ZeroHedge.

Will this change anything? Probably not, although it could provide a brief buying opportunity. Silver appears to be taking its intended dip right now in Asia. It looks like wants to collapse on the 10-minute chart.

Watch silver live in any time frame.

On another note, ZeroHedge is reporting that Ampmex is buying silver for $3.00 over spot. Hmmmm… A conspiracy theorist who is more than bullish on silver might conclude that somebody is conspiring to scoop up silver, or at least cover their shorts. We don’t know about conspiracies and all that, but even the paranoid can be correct. Let’s see what happens.

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